Mahindra & Mahindra Financial Services receives credit ratings from India Ratings & Research
Non-convertible Debenture (Rs 39,000 crore) - IND AAA; Stable
Retail Non-convertible Debentures (Rs 8,000 crore) - IND AAA; Stable (The rated limit is interchangeable with retail subordinated debt)
Private Sub Debt (Rs 5,450 crore) - IND AAA/ Outlook Stable (Rs 2,000 crore of retail non-convertible debentures moved to Private Sub debt)
Principal Protected Market Linked Debenture (Rs 1,500 crore) - IND PP-MLD AAA/Stable
Retail Subordinate Debt - IND AAA/ Outlook Stable
Commercial paper (Rs 15,000 crore) - IND A1+
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Bank loan (Rs 65,000 crore) - IND AAA/ Outlook Stable / IND A1+
Fixed deposit (Rs 12,000 crore) - IND AAA/ Stable
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